Turmeric on NCDEX settled down by -1.58% at 7478 on prospects of good monsoon amid subdued demand. Prices of turmeric were down as turmeric yield and output is expected to improve in 2017-18 on account of good monsoon in the Southern India. Turmeric output may rise at 1-1.1 million tons in 2017-18 season compared to last year. In 2016-17, turmeric output is pegged at 1.13 million tons by government in the third advance estimate, higher from 943,000 tons in 2015-16.

Trading Ideas:

* Turmeric trading range for the day is 7372-7652.

* Turmeric ended with losses on prospects of good monsoon amid subdued demand.

* The production estimate of turmeric for 2016/17 is pegged at 11.32 lakh tonnes by government in 3rd advance estimate higher from 9.43 lakh tonnes in 2015/16.

* NCDEX accredited warehouses turmeric stocks gained by 219 tonnes to 4611 tonnes.

* In Nizamabad, a major spot market in AP, the price ended at 7624 Rupees dropped -20.45 Rupees.

More Information Nifty Future Tips >> Give A Missed Call @ 9644405056.